Tetra Tech (NASDAQ:TTEK) Price Target Lowered to $34.00 at KeyCorp

Tetra Tech (NASDAQ:TTEK) had its target price trimmed by KeyCorp from $45.00 to $34.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

Other equities analysts have also recently issued reports about the company. Maxim Group cut Tetra Tech from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Royal Bank of Canada set a $49.00 target price on Tetra Tech in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $45.72.

Tetra Tech Trading Down 0.4 %

Shares of TTEK opened at $29.85 on Wednesday. The firm has a market cap of $8.00 billion, a P/E ratio of 31.36 and a beta of 0.89. Tetra Tech has a fifty-two week low of $27.27 and a fifty-two week high of $51.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. The business has a 50-day moving average of $29.80 and a 200 day moving average of $38.55.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. As a group, research analysts forecast that Tetra Tech will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $0.058 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.23 annualized dividend and a dividend yield of 0.78%. Tetra Tech’s payout ratio is currently 24.21%.

Insider Activity

In related news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total value of $347,282.28. Following the sale, the director now directly owns 60,196 shares of the company’s stock, valued at $2,066,528.68. This trade represents a 14.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Tetra Tech

A number of institutional investors have recently made changes to their positions in the stock. Sarasin & Partners LLP purchased a new position in Tetra Tech in the first quarter worth $144,799,000. Norges Bank purchased a new position in shares of Tetra Tech in the 4th quarter worth about $121,390,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Tetra Tech by 814.2% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,267,296 shares of the industrial products company’s stock valued at $90,329,000 after buying an additional 2,019,295 shares in the last quarter. Bain Capital Public Equity Management II LLC lifted its position in Tetra Tech by 149.5% in the 4th quarter. Bain Capital Public Equity Management II LLC now owns 2,409,928 shares of the industrial products company’s stock worth $96,012,000 after buying an additional 1,443,939 shares during the last quarter. Finally, Capital International Investors purchased a new stake in Tetra Tech in the fourth quarter worth approximately $43,895,000. Institutional investors own 93.89% of the company’s stock.

About Tetra Tech

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services.